Turkey's main bourse, the Istanbul Stock Exchange (IMKB), and the Egyptian Exchange signed Friday a memorandum of understanding on cooperation.

In a ceremony in Istanbul IMKB Chairman Ibrahim Turan and his Egyptian counterpart Mohammad Omran penned the MoU which allows for cooperation on technical issues, technology sharing, training and data producing.

"This is the first step of a journey that can go as far as integration of bourses to the market," Turan told the ceremony.

Omran, on his part said, that the agreement would not be symbolic one, adding that concrete results would be taken in three-four months.

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